Member Info for BringMyReward

We knew another placing was coming, Colin said as much in presentations and telephone interviews. Perhaps because it’s been mentioned in an RNS it has spooked some investors. With hindsight it might have been best to sell when it hit 0.6 and just wait for the placing to buy back in. Having said that, it was also risky being out in case they raised the cash from an asset sale.

I very much doubt that JLP will be advancing any cash to GLR as part of the off-take agreement. Again, Colin made that clear in an interview, stating that JLP are tight with their cash at the moment. He’s the Chairman of JLP so he knows the situation. In the absence of an asset sale, we will probably need to raise another £500k to last us until JLP begin to take ore from GLR. If we manage to raise at 0.5p it will be 100m shares dilution, so not too bad.

I’m sure raising the cash and obtaining the mining licence/permit and permissions won’t be an issue. The main risk at the moment is JLP not hitting Zinc production on time. It’s been pushed back to Q2 2020 so that already causes GLR a problem with having to keep the lights on until they can start selling ore to JLP. It could be another 9 months until GLR benefit financially from Star-Zinc. Let’s hope that Q2 date doesn’t slip into Q3... I continue to hold and will likely add whilst it’s in the 0.4s, can’t see much downside from here and the upside potential is huge.

I think news on the Royalty is pretty close now... Let's see what the terms are like and then decide what we want to do from there.

Hi sausageface, Zinc has made a lot of repeatable series including the 'From Hell' strand for Channel 4 made by Tern Belfast, and includes Holidays from Hell, Roads from Hell, etc. Also The Secret Lives Of Puppies for Channel 5, which got recommissioned for a third series. They also do a lot of one offs which is good for building quick revenue and profit. Have a flick through the final results RNS and you'll see more examples.

The biggest winners for us are international commissions, and Zinc Media haven't even begun to tap into this market, particularly within the international SVOD market. I think this is an area that will be strongly in focus for the business going forward.

Hi Troajan, If/when BMR re-lists (should be by March 2020) you might want to consider holding onto your shares for a little longer, just because of how the deal will be structured.

It all depends on the individuals circumstances and all that, but personally I won't be selling up without a good offer being made first. Revelo might be keen on hoovering shares up from existing shareholders for the benefit of the Company?

Hi Jammer, You're correct. There was nothing at the AGM/GM that offered to protect the Royalty for BMR shareholders. That's why shareholders voted down proposals and requested that the GM be adjourned. There is a revised plan being put in motion and details should emerge soon.

In terms of Revelo being a good investment for BMR/JLP, it could turn out to be good in the end, but I'm not pinning any hopes on it. Instead I will just hold onto the shares until the Royalty is sold and I can recover my investment that way. What ever I get for the Revelo shares will be a bonus.

JLP might decide to sell their holding in BMR before the New Co is listed, or they might decide to buy more and maintain their 29% holding, possibly with the view to one day acquire the Company? Who knows, I'm sure more details will be out soon.

Changes to the LOI... I wonder what that could mean...

We probably won't list until early next year now and I think the value of the listed Company will be quite low, possibly somewhere between 0.2p to 0.5p (half a penny max). However, even if the SP hit 4p to 5p after listing, I won't be selling a single share. It might be a case of wait for a sensible offer to come in for the Royalty. Even if it takes 2-3 years it will be worth the wait, but you never know, offers might come sooner to tempt you to sell...

Well the SP reaction could have been worse... I figured the SP would drop after reading the results RNS so I sold 500k first thing. I Managed to get over 0.3p. There has been a strong bit of buying today and I decided to buy a few back just before the bell, it was a struggle to buy any more than 150k so I just took 146k to round my number of shares up. I thinks it's a positive sign that selling has dried up pretty quickly.

The results were disappointing, particularity because we had increased revenues yet profits were down. Although Tern has been an excellent performer it's also costing us a lot in earn-out fees. The margins are not going to improve much so the only way to make more profit from TV production will be to expand, and that will take a lot of time and money. Failing that we just need to win more commissions that are highly profitable, these will likely be commissions from the big SVOD providers etc. We need a very large deal from the likes of Netflix to get the SP moving again, but how long will that take?

It seems that the only way to make bigger profits quickly will be to diversify the business. This will probably involve a placing in order to buy other businesses to add to the group... I'll continue to hold for now and might add more if it dips back into the low 0.2's again. Over the next few months I'm expecting an acquisition and hopefully some much larger commission wins.

Cheers Scottie. No date yet, I assume it will be in October. Bearing in mind that they need to pass resolutions in order to get a listing by the end of December to satisfy the deal with Revelo. That's if it's still going ahead of course. What's to say JLP don't decide to make BMR an offer for the Royalty? It needs to be the right type of offer though, otherwise it will get rejected.

Yeah I still talk to Laffer occasionally. He's taken a backseat from BMR Watch. Can't blame him really, this whole situation has been a nightmare for us.

I know what you mean, but it's only £8.5k. I'd be more concerned if it was a lot more volume being sold. It's been pretty quiet recently and the SP has been moving up slowly since falling to the 0.25 region.

It could be somebody expecting a drop on results. It's a good sign that the SP actually moved up on a chunky sell. Looking forward to the results, and more so the 3 year plan.

Results tomorrow or Monday? Somebody off-loaded 2.5m, they might miss out on a nice rise if the results are good. Not long to wait now.

Lol if you say so. I was in the room when Colin Bird was on the phone offering a deal sweetener to BMR shareholders, and there were at least two others that post on here also present.

I won't tell you what he offered because it wasn't even viable. Better try harder, Mr. Bird!

It works both ways really. If JLP hadn't got involved when they did, the licence would have been lost to another Company. There were a few parties lined up with their hands open. JLP have the Kabwe project, but we still have EML which owns the land and tailings. Also, AB negotiated an 11% Royalty, but the terms of this have yet to be negotiated. I don't see why it can't include everything that is processed at Sable, we would expect the same if the processing plant was built onsite at Kabwe, in fact they might have built units already, or are planning to.

We were told that the Royalty would be hived down for current shareholders. If this doesn't happen then JLP had better sweeten the deal if they expect shareholders to vote the proposals through.

Demise might be a strong word. The Company might be in a poor position but it's certainly not dead. We at least have the Royalty which is valuable given time. You can't take that away from us, unless JLP are willing to dig very deep into their pockets.

It all looks flashy, but I can't help but think it's another BMR situation regarding Kabwe. Meaning that JLP keep on pushing back the production dates, just like BMR did. Obviously the key difference is JLP has the money to get it into production, but why the big delays all of a sudden, and why is the Zinc production figure so low?

Lots of questions surrounding the project, and most importantly, how are we going to benefit from the Royalty going forward? If we have to wait for them to start producing from the Kabwe tailings, I fear we will be waiting forever. We should really get a percentage of everything that gets processed at Sable. If it wasn't for BMR, JLP wouldn't have a licence to produce anything, and they wouldn't have the huge stockpile of tailings at Kabwe.

Good to hear the party is still on, Shenners… It might just happen in 2020?

So the preliminary results should be out this week which covers accounts to the end of June 2019. Hopefully they will also include the plan for the Company, or it will be released separately shortly after. I’m expecting a small improvement and a positive forward looking statement. This should help us move back above 1p in the near term.

I bought a few more on the back of the recent RNS. Commissions are rolling in and we have a strong set of management who have the contacts, and the know how to take us from a £5m MC to over £50m... Looking forward to the results and I’ll have another top up beforehand if I can.

GL All!

The update is late, should we be surprised? I have a feeling AB has buggered off abroad. No doubt all paid for from his BMR salary. It’s nice that somebody gets to benefit financially from the Company...

Maybe we will get an update this week? Anyone planning to attend the General Meeting? It’ll probably be in October now.

3card, this is what BMR shareholders have had to endure for years. Being told something will happen and it doesn't... Apparently JLP didn't want the Royalty to be ring-fenced but have now reconsidered.

A fresh set of resolutions will be published in around 1 week, these will probably include some of the previous resolutions plus 1 or 2 new ones. I suspect there will be some sort of deal sweetener for the Royalty, but how good it will be I don't know. I do know that if it goes into the listed Company in its current state, it will not benefit current shareholders.

Just to throw another piece of information out there, I was informed that a new CEO who's based in South Africa will be joining the new listed Company... I wonder who that could be?

First Tweet: “Revelo's CEO, Tim Beale, has been visiting Revelo's Montezuma project, which is subject of an LOI with BMR Group PLC. The visit was with BMR's technical report writer - geologist James Hogg, and Revelo's consultant geologist - Mario Orrego.”

https://twitter.com/ReveloResources/status/1171110634370600962

Second Tweet: “Unusually - while we were visiting the Montezuma project - we had angry skies and some rainfall.”

https://twitter.com/ReveloResources/status/1171112364055441409

I suspect the skies feel the same way as BMR shareholders do right now! These new proposals had better be good. We’re sick of being messed about with this Royalty and we are none the wiser of how it will work and what will happen to it. Sort this mess out once and for all!

Yes, update added to the website yesterday...

http://www.bmrplc.com/documents/BMR%20General%20Meetings%20held%20on%2023%20August%202019.pdf

3card, thanks, hopefully see you at the next one… The AGM resolutions (apart from adopting the accounts) will go to a poll for count of shares. The GM was adjourned so there will be another date for this, and there might be an additional resolution or two to vote on. I’m hoping we can have positive talks with BMR/JLP before the GM reconvenes.

Hi Rosewall, yes I'm glad you mentioned it, thanks. We did call the Registrars and we're told the resolutions would be determined by number of shares. However, in the room it was possible to vote them through by show of hand, a bit sneaky really... I'm very happy with the outcome, it buys us more time to get things sorted.